If you live in the US and enjoy getting your Topshop fix regularly, then I’m sorry to say it won’t be possible anymore, as the high-street chain is closing all its US stores.
Ian Grabiner, chief executive of Arcadia Group, told the BBC that the move was a ‘tough but necessary’ one, to avoid potential bankrupcy.
He added, ‘Against a backdrop of challenging retail headwinds, changing consumer habits and ever-increasing online competition, we have seriously considered all possible strategic options to return the group to a stable financial platform.’
In addition to the US stores, 23 others under the Arcadia umbrella are set to shut in the UK and Ireland, which include Dorothy Perkins, Burton and Miss Selfridge.
The rest of the stores will continue to trade as normal, whilst Arcadia seeks a solution to maintain them. Another meeting with creditors is said to be happening on 5 June, during which they will set out a financial plan.
If you live in the US, you’ll still be able to shop Topshop online, so all is not lost.